Judgements Uploaded By Users In Category: Income-Tax Act
These judgements are uploaded by our esteemed readers. If you have a judgement on an important topic that you would like to share with others, please use this form to upload it
The ITAT Delhi has held that If the materiel on the basis of which reasons were recorded and belief has been entertained is already reversed by the High Court then such an action of 147 is not tenable in law. Read More ...
The ITAT DELHI has held that Reopening the assessment on the allegation that assessee indulge in smuggling however not assessing any income from smuggling would be without jurisdiction since the information was vague and the belief entertained is based on material which was factually incorrect. Hence the action of 147 is not tenable Read More ...
The ITAT Delhi Bench has held that Jurisdiction of 147 cannot be assumed on wrong facts, mentioning escapement of an amount of Rs 50 lakh and finally assessing an amount of Rs 95 lakhs amounts to mentioning of wrong facts, further mere endorsement of "Approved" is amounts to mechanical approval by CIT u/s 151 Read More ...
The ITAT AGRA BENCH has held that The Hon'ble Bench allowed the Appeal of Revenue following judgement of Hon'ble Allahabad High Court in the case of Sandeep Chandak. In the instant case the Assessing Officer while issuing Notice u/s 274 of the Act did not specify the limb of Section 271(1)(c) whether the Penalty has been initiated for concealment of income or… Read More ...
The Supreme Court has held that Supreme Court settles the long standing dispute regarding the taxability of sale of software. Case- ENGINEERING ANALYSIS CENTRE OF EXCELLENCE PRIVATE LIMITED Versus THE COMMISSIONER OF INCOME TAX & ANR. Date- 2nd March 2021 The apex court today in a catena of appeals was dealing with the following four categories of cases where the issue… Read More ...
The Madras High Court has held that Synopsis: The Madras High Court noted that as per Section 5(1) of the Income Tax Act, the assessee comes under the category of NOR assessee and is liable to pay tax only on income earned in India. Specifically, Section 5(1) excludes “income which accrues or arises outside India“ in the case of Not Ordinarily Resident… Read More ...
The ITAT, JAIPUR BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI VIKRAM SINGH YADAV, AM has held that 1. In the case appeal filed before THE INCOME TAX APPELLATE TRIBUNAL, where the appellate opt to VIVAD SE VISHWAS SCHEME. The ITAT only adjudicate the issue of condonation of delay. Held yes. 2. In a government company the delay can be condone 427 days on the ground of transfer/retirement of concerned person who have… Read More ...
The IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR has held that 1.Whether the order passed u/s 12AA(3) and 4 by PCIT (central) for cancellation of Registration of trust is illegal invalid due to without jurisdiction where the jurisdiction of assent purpose transfer to central circle u/s 127 from the exemption, held yes (in favour of assessee). 2.Whether the order for cancellation of registration of a trust… Read More ...
The ITAT Mumbai has held that The ITAT Mumbai had to consider two questions of law: 1. On the facts and in the circumstances of the case and in law, the Commissioner of Income-tax (A) has erred in upholding the action of the learned Assessing Officer to tax Employee Stock Option as perquisite u/s 17. 2. Without prejudice to above, on… Read More ...
The The High Court of Uttarakhand at Nainital has held that On the Writ Petition of The Dehradun Chartered Accountants Society for extension of the due date for filing ITR & TAR, the hon'ble High Court of Uttarakhand permitted the petitioner to submit fresh representation before the CBDT & directed the CBDT to leniently consider the said representation after giving the petitioner the opportunity of being… Read More ...